Danske Daily – 5 July 2017

New research from Danske Bank MarketsMarket movers today

Today, PMI services indices in June for several countries are due out. Especially the UK index may attract attention, as both the manufacturing and construction indices fell, suggesting GDP growth might have remained weak in Q2 after the slow growth in Q1.

In the Nordics, Swedish production data for May is due out at 09:30 CET and Norwegian house prices in June at 11:00 CET.

In the US, the FOMC minutes from the June meeting are due out at 20:00 CET. We will look out for comments on when the Fed will start ‘quantitative tightening’ (shrinking the balance sheet) and internal discussions about how the FOMC members see the trade-off between low unemployment and low inflation.

We expect the Polish central bank to maintain the policy rate at 1.50%. See also Flash Comment: Too early for NBP to join the hawkish camp , 4 July 2017.

Selected market news